Coastal Contracts Bhd has secured a vessel sales order worth approximately RM175.78 million, adding to the shipbuilding group’s revenue pipeline for the current financial year.
The company said its wholly owned subsidiary, Coastal Offshore Marine Inc, secured the order on Aug 14, 2026, involving the sale of one offshore support vessel (OSV).
The transaction is revenue in nature and was entered into in the ordinary course of business, Coastal Contracts said in a Bursa Malaysia filing.
The vessel sale is expected to contribute positively to the earnings of the group’s Shipbuilding Division as well as its net assets for the financial year ending Dec 31, 2026.
